- ISIN
- US73936T7717
- CUSIP
- 46138E735
- Issuer
- Invesco
- Inception Date
- Sep 27, 2007
- Region
- Global ex-U.S. (Broad)
- Category
- Foreign Small & Mid Cap Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- FTSE RAFI Developed x US Mid/Small
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $353M
Highlights
- Avg. Volume (1M)
- 10K
- Avg. Volume Value (1M)
- $457.49K
Share Price Chart
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Performance
PDN Performance Chart
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) is up 9.5% since the beginning of the year. PDN is currently trading at $45 per share. Investors who bought $1,000 worth of PDN shares 5 years ago would now be looking at an investment worth $1,386.
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Returns By Period
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) has returned 9.46% so far this year and 21.59% over the past 12 months. Over the last ten years, PDN has returned 8.32% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF
- 1D
- -1.00%
- 1M
- 0.32%
- 6M
- 3.05%
- YTD
- 9.46%
- 1Y
- 21.59%
- 3Y*
- 16.30%
- 5Y*
- 6.75%
- 10Y*
- 8.32%
- ALL TIME*
- 5.65%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
PDN Monthly Returns History
Based on dividend-adjusted daily data since Sep 28, 2007, PDN's average daily return is +0.03%, while the average monthly return is +0.60%. At this rate, an investment would double in approximately 9.7 years.
Historically, 57% of months were positive and 43% were negative. The best month was Apr 2009 with a return of +17.6%, while the worst month was Oct 2008 at -18.4%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.
On a daily basis, PDN closed higher 53% of trading days. The best single day was Oct 28, 2008 with a return of +9.8%, while the worst single day was Mar 12, 2020 at -11.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.22% | 6.05% | -8.12% | 6.85% | 1.34% | -3.34% | 1.04% | 9.46% | |||||
| 2025 | 3.16% | 1.68% | 1.74% | 4.94% | 5.71% | 5.81% | -0.63% | 4.75% | 2.16% | -0.12% | 1.80% | 2.14% | 38.34% |
| 2024 | -2.97% | 1.51% | 3.36% | -2.83% | 4.88% | -2.70% | 4.89% | 2.27% | 2.14% | -6.37% | 0.49% | -3.36% | 0.57% |
| 2023 | 7.56% | -3.42% | 1.58% | 1.71% | -4.38% | 3.09% | 4.74% | -3.16% | -4.75% | -3.83% | 8.17% | 6.60% | 13.35% |
| 2022 | -4.74% | -0.59% | -0.41% | -6.67% | 1.27% | -9.84% | 5.39% | -5.05% | -11.47% | 4.41% | 12.30% | -1.01% | -17.35% |
| 2021 | 0.07% | 2.36% | 3.83% | 3.57% | 2.53% | -1.05% | 0.42% | 1.22% | -3.02% | 2.24% | -6.74% | 3.81% | 9.03% |
Benchmark Metrics
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF has an annualized alpha of -0.91%, beta of 0.83, and R2 of 0.62 versus S&P 500 Index. Calculated based on daily prices since September 28, 2007.
- This ETF participated in 100.33% of S&P 500 Index downside but only 86.73% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- -0.91%
- Beta
- 0.83
- R²
- 0.62
- Upside Capture
- 86.73%
- Downside Capture
- 100.33%
Expense Ratio
PDN has an expense ratio of 0.49%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PDN ranks 57 for risk / return — above 57% of ETFs peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PDN | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.00 | -0.07 |
| Martin ratioReturn relative to average drawdown | 6.69 | 8.49 | -1.81 |
Dividends
Dividend History
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF provided a 3.26% dividend yield over the last twelve months, with an annual payout of $1.48 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.48 | $1.42 | $1.06 | $1.02 | $0.79 | $0.89 | $0.62 | $0.83 | $0.61 | $0.83 | $0.58 | $0.53 |
Dividend yield | 3.26% | 3.36% | 3.36% | 3.16% | 2.68% | 2.42% | 1.79% | 2.60% | 2.21% | 2.42% | 2.16% | 2.06% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.42 | $0.00 | $0.70 | |||||
| 2025 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.51 | $1.42 |
| 2024 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.34 | $1.06 |
| 2023 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.27 | $1.02 |
| 2022 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.11 | $0.79 |
| 2021 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.37 | $0.89 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF was 59.32%, occurring on Mar 9, 2009. Recovery took 467 trading sessions.
The current Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF drawdown is 3.30%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-59.32%Mar 2009 | 1y 4mo | 1y 10mo | 3y 2moNov 2007 - Jan 2011 | Financial crisis2007–2009 |
-41.94%Mar 2020 | 2y 1mo | 8mo 27d | 2y 10moJan 2018 - Dec 2020 | COVID crash2020 |
-33.68%Oct 2022 | 1y 1mo | 2y 6mo | 3y 8moSep 2021 - May 2025 | Bear market2022 |
-24.21%Jun 2012 | 1y 1mo | 10mo 28d | 1y 11moMay 2011 - Apr 2013 | — |
-20.59%Feb 2016 | 9mo | 12mo 4d | 1y 8moMay 2015 - Feb 2017 | — |
Drawdown Indicators
| PDN | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.32% | -56.78% | -2.54% |
Max Drawdown (1Y)Largest decline over 1 year | -11.26% | -9.10% | -2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -12.69% | -18.90% | +6.21% |
Max Drawdown (5Y)Largest decline over 5 years | -33.68% | -25.43% | -8.25% |
Max Drawdown (10Y)Largest decline over 10 years | -41.94% | -33.92% | -8.02% |
Current DrawdownCurrent decline from peak | -3.30% | -1.58% | -1.72% |
Average DrawdownAverage peak-to-trough decline | -11.52% | -10.70% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 2.14% | +1.11% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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